Portola Packaging confirms plans
BATAVIA - Portola Packaging Inc., a manufacturer of tamper-evident closures, plastic containers, cosmetic packaging and related products and engineering services for the dairy, juice, water and cosmetic industries, announced that the Delaware Bankruptcy Court had confirmed Portola's chapter 11 plan of reorganization. Confirmation of its plan came after Portola obtaining an exit financing commitment from Wells Fargo Foothill, LLC and Regiment Capital Special Situations Fund IV, LP for a $66 million senior secured credit facility. Having obtained confirmation of its plan, Portola remains on track with its current timetable to emerge from chapter 11 by the end of October.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.